Who bought in the Okanagan in July?

The results of OMREB's JULY 2014 Buyers Survey are now in and posted!  A total of 301 respondents participated in this survey – representing 61% of the 492 OMREB sales representatives who acted as Buyers Agents, and 34% of the 891 deals closed on behalf of Buyers in July.

Property Type:

29.2% of purchases were by Move-Up Buyers (down from 30.9% in June)  
14.9% by First Time Buyers  (down from 20.7%)
12.9% moving from Single Family Home to Strata Unit (same as June)
10.2% buying Recreation Property  (up from 4.3%) * 
9.2% buying Revenue/Investment Property  (same as June) 
6.8% moving into Retirement Home/Seniors Community  (up from 5.3%) *
4.1% moving from Strata property to Single Family Home (up from 2.8%)  *

* During June, there were increases in purchases by recreation property buyers, retirees moving into seniors communities, and buyers moving from strata properties to single family homes compared to the previous month.

Buyer Type (Family Dynamic):
26.7% Couple without Children (up from 24.9% in June) **
24.7% Two Parent Family/Children (down from 28.4%)
23.0% Empty Nester/Retired (up from 21.3%) **
13.0% Single Female (up from 11.9%) **
9.7% Single Male (down from 9.9%)
2.7% Single Parent with Children (same as June)

** There were more purchases by couples without children, empty nessters/retirees and single females during July than in June.

Moving From: 
50.3% from Within OMREB Board Area  (down from 57.9% in July)
22.7% from Alberta (up from 18.2%) ***
11.7% from Other Areas in BC  (up from 8.6%) ***
7.3% from Lower Mainland/Vancouver Island  (down from 9.8%)
3.6% from Saskatchewan/Manitoba (up from 1.2%) *** 
2.3% from Outside Canada  (up from 1.8%) ***
1.3% from Eastern Canada/Maritimes (down from 2.1%) 
0.7% from NWT/Yukon (up from 0.3%) ***

*** Compared to June, more buyers moved from Alberta, other areas of BC, Saskatchewan/Manitoba, the Territories/Yukon and outside Canada in July. Movement from other areas declined.

• Full summary of survey results with pie charts
• This month's highlights
 Who is Buying Homes in the Okanagan-Shuswap? hand-out for Second Quarter 2014 (January through June – quarterly from now on rather than monthly) 

2011-2014 PIE CHARTS:  
Compiled averages for all five categories to show trends:
• 2014 pie charts for second quarter (January through June)
• 2013 pie charts to compare - available on REALTOR Link®
• 2012 and 2011 pie charts - available on REALTOR Link®

REALTORLink Archive:  Monthly Buyers Survey results, averages and highlights are posted and archived for easy reference and download on OMREB Statistics page on REALTOR Link®.

Kim Heizmann

Kim Heizmann

Personal Real Estate Corporation
CENTURY 21 Executives Realty Ltd.
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